Looking to compete directly with short-term rental hosting platform, Airbnb, Flatio and NomadX are joining forces. Flatio is a mid-term rental platform for business travelers and students. NomadX is a digital mid-term housing marketplace based out of Lisbon. Together, the merger looks to push Airbnb out of the top spot of the mid-term rental sector.
Together, both companies will combine their listings and expand into new markets including the US, UK, and Brazil.
One of the pushes for merging was Flatio seeing a record 20% growth while other companies struggled dealing with the problems surrounding the pandemic. Meanwhile, Airbnb has experienced its fair share of issues due to travel bans and customers canceling their reservations in droves.
Flatio’s CEO Radim Rezek, said:
“Airbnb tried and failed to merge into the mid-term rental market four years ago, but their business model isn’t up to it, so we’re not worried. Our business model is much more sustainable than Airbnb’s because we build and develop relationships with individual landlords, which make up 85% of our inventory. We also safeguard our tenants by offering full contractual agreements in native languages.”
All property listings, management, and transactions by both companies will be centralized on Flatio’s platform. NomadX will keep it’s branded housing marketplace but will be powered by Flatio and expand to all of Flatio’s current markets.